Can you transfer your shares in free trade into the GIA and close the ISA? I am contemplating the fees worth
As you start out, an account that bases its fees on a percentage of your holdings makes sense, but there will come a point where your holdings are large enough that it would warrant transferring to a platform that operates on a flat fee, such as Interactive Investor. Until that point, Vanguard is one of the cheapest around.
Whilst I use Freetrade, at the moment you can’t transfer your shares out, so they have to be cashed out if you wanted to move elsewhere. Something to keep in mind.
Re the Freetrade £36 a year fee that’s nothing. It’s only a lot if you are putting in less than £36!
If you want it for free try T212 instead.
Even if you know nothing about trading and don’t want to pick specific stocks just bunging it into a few ETFs and leaving with get you profit over time.
Only keep what you need in savings, everything you can gamble that you don’t need near term put into the S&S ISA.
I’ve just made this catch-up post on Freetrade.
First Y is the percentage increase year to date, second M is in the last month, the last percentage is how much between 2016-2020.
1. SPGP
(69.84% Y 36.10% M) (4 - 103.78%)
2. IITU
(17.46% Y 10.76% M) (1 - 165.10%)
3. EQQQ
(15.72% Y 14.15% M) (2 - 141.51%)
4. IWFM
(4.28% Y 8.93% M) (3 - 107.62%)
–
So if you put your money into IITU (Technology) today last year you would still be up 17.46% despite Covid-19 pandemic!
Don’t put all eggs in one basket, this is not financial advice, do your own research, blah blah
1 Like
Thanks for all your help.
I think I’m going to use my Chip savings to invest for now and keep my deposit savings in a separate account/LISA just to be safe.
2 Likes